How to Become a Mobile Money Operator in Nigeria

Have you heard about the booming mobile money operator business which is making waves in Nigeria? This business is getting popular and widely known in Nigeria because of the ways in which people are searching to make more money for themselves. As a mobile money operator, you can get to make huge sum of profits by doing simple tasks with your mobile phone.

A mobile money operator or agent is a person who offers simple financial services such as bank account opening, enrollment for Bank Verification Number (BVN), cash deposit, cash withdrawal, funds transfer, airtime purchase and top-up, internet data purchase, payment of utility bills and government disbursement.

By becoming a mobile money operator, you get to benefit from a whole lot of packages and increased extra income through the commissions of your mobile money transactions. There are different types of transactions which you can carry out as a mobile money agent.  Some of these benefits include;

-Airtime recharge (on all networks in Nigeria [MTN, Glo, Airtel & 9mobile)

– Payment of utility bills and other payments (PHCN electricity bill, water bill, Waste bill, DStv/GoTV/Startimes/AcTV bill, local & state government levies/taxes, estate permits, etc.)

– Money Transfer (sending money to another person, and, receiving money from any person nationwide)

– Opening a bank account with any bank in Nigeria

– Payments for insurance premiums, airline flight tickets, embassies, etc.

– Funds deposit into a personal account or a third- party account

– Cashout or Withdrawal of funds from your own account.

As a mobile money operator, you need not to worry or panic about the profitability of this business or if you would get patronized. The fact is that money circulates faster in the Nigerian economy and the need for financial services arises from time to time. Be it a businessman, housewife, politician, trader, self-employed individual or an unemployed individual, such person would use the services of a mobile money operator if they have the need to get basic financial services.

In remote towns and locations where people face difficulty in getting a bank or have to go through long distances before they can get basic financial services, you can setup a mobile money operator business in such locations and get to make money in commissions from your services.

Individuals, SMEs, institutions can start up a mobile money operator business here in Nigeria. What you need to get started is an android phone, a registration form like a bank deposit slip, substantial capital, Know Your Customers (KYC) documents and some branding materials and basic training for the business.

As a matter of fact, so many Nigerians are already venturing into this business. This is another reason why you shouldn’t be left out. You can start up as an agent with different mobile money operators such as Quickteller, eTranzact, PocketMoni, Paga etc and you get to make money as you bring on people into the mobile money transfer.

Lastly, you get to make additional revenue from the commissions, bonuses, increased sales and incentives as a mobile money agent.